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mcconnell. but today, mcconnell gave no indication of movement. >> last night i told the president we'd be happy to look at whatever he proposes, but the truth is we're coming up against a hard deadline here, and as i said this is a conversation we should have had months ago. and republicans aren't about to write a blank check for anything senate democrats put forward just because we find ourselves at the edge of the cliff. >> reporter: adding to the urgency, treasury secretary timothy geithner warned he'll have to begin taking "extraordinary measures" to postpone a government default. the government is on track to hit its borrowing limit on monday, he said with no prospect of congressional action to raise the limit. here now to help us unravel what's going on is todd zwillich. he's washington correspondent for "the takeaway" on public radio international. todd, welcome back. decode this for us. are the players privately as bleak about the prospects as their public statement suggests? >> not as
mcconnell. but today, mcconnell gave no indication of movement. >> last night i told the president we'd be happy to look at whatever he proposes, but the truth is we're coming up against a hard deadline here, and as i said this is a conversation we should have had months ago. and republicans aren't about to write a blank check for anything senate democrats put forward just because we find ourselves at the edge of the cliff. >> reporter: adding to the urgency, treasury secretary...
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mcconnell will gra have to agree not to filibuster that and the president is daring mitch mcconnell not to engage in a filibuster and it would seem so embarrassing to the public that mcconnell was filibustering a deal for middle-class tax reform. i think that's a risky gamble. i guess the way he, the president, is thinking of it is either he gets that bill on the floor and mcconnell lets it go for a vote and he gets what me wants or we're going over the cliff which i think he probably feels is not such a terrible scenario for him, vis-a-vis the republicans. >> let me ask you, let's bring up the number of votes that harry reid got to get his job and what mitch mcconnell got to get his job and then the president's. the president got 65.6 million votes. senator mcconnell got less than a million, 954,000 and senator reid, 363,000. a man whos had got 65 million votes has handed off the leadership of this key issue to two men combined who haven't gotten even 1.5 million votes. they represent fewer than 1.5 million people in america and he's seated leadershceded leade. why? >> obama has al
mcconnell will gra have to agree not to filibuster that and the president is daring mitch mcconnell not to engage in a filibuster and it would seem so embarrassing to the public that mcconnell was filibustering a deal for middle-class tax reform. i think that's a risky gamble. i guess the way he, the president, is thinking of it is either he gets that bill on the floor and mcconnell lets it go for a vote and he gets what me wants or we're going over the cliff which i think he probably feels is...
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. >> sources say senate leaders harry reid and mitch mcconnell are drafting a small stopgap plan that could include extending unemployment insurance, protecting 30 million americans from paying the alternative minimum tax, and allowing tax rates to increase on the wealthiest americans. but the issue remains a major sticking point, with many republicans resisting any tax increase. economists says the last minute product -- a process called into question washington's ability to deal with the hard issues of tax reform. >> the prospects for the economy are incredibly dim until we tackle these challenges and put some certainty into the economy and boost confidence. >> meanwhile, americans watch with worry and frustration heard >> i think they are failing as. i am so sick and tired of them. >> is it the equivalent of worrying about your mortgage after you are homeless. it is a sad. they have a job to do and they are not doing it. >> tomorrow morning, president obama will be david gregory's guest on "meet the press". you can catch his interview on 11 news at 10:00 a.m. now to today's storm,
. >> sources say senate leaders harry reid and mitch mcconnell are drafting a small stopgap plan that could include extending unemployment insurance, protecting 30 million americans from paying the alternative minimum tax, and allowing tax rates to increase on the wealthiest americans. but the issue remains a major sticking point, with many republicans resisting any tax increase. economists says the last minute product -- a process called into question washington's ability to deal with...
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Dec 31, 2012
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we are told that mitch mcconnell, who is the senate minority leader, representing the republican party. harry reid, representing the democrats, had hoped to have a bill on the table for their caucuses to look at in about 60 minutes from now and the word here is that there has been a major setback. one anonymous source is saying that we are now further back than we were 24 hours ago with these gorks and i'm hearing it is that the republicans have introduced the idea of bringing some changes to sporblee security. that would be the short-term benefit that people are entitled to for a very short time when they have been out of work for six months or more. we knew they were struggling anyway to resolve the key issues, like, for example, how many wealthy families will pay more under president obama's plan? there are inheritance tax issues and the unemployment benefits being kept up. president obama particularly wanted that to go into this bill so that anybody who needed unemployment checks would get them. according to this latest source, even that is up in the air. it's 2:00 in the afternoon
we are told that mitch mcconnell, who is the senate minority leader, representing the republican party. harry reid, representing the democrats, had hoped to have a bill on the table for their caucuses to look at in about 60 minutes from now and the word here is that there has been a major setback. one anonymous source is saying that we are now further back than we were 24 hours ago with these gorks and i'm hearing it is that the republicans have introduced the idea of bringing some changes to...
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and is it mitch mcconnell to the rescue. live in washington on the 11th hour negotiations. >> and did you know about to fall off the dairy cliff? >> juliet: have you seen the prices? >> dave: as high as 8 bucks a gallon for milk. >> clayton: oak ridge boys bush. special number tribute for number 41. "fox & friends" begins right now. >> am i wrong about that don't the have a deep voice? ♪ >> oak ridge boys have been on this show many times on "fox & friends." >> good morning, everyone. >> dave: good morning. juliet huddy celebrating an early new year's eve. is it new year's eve? >> juliet: sparkly shoes and everything. i feel like we are waking up at 4:00 in the morning on saturday i better be festive. >> clayton: that's what woke me up this morning. >> juliet: this is a beautiful set it has inspired me. >> dave: it's spectacular. >> juliet: it is. >> dave: it's fiscal cliff time. couple of days away. rare i wake up and say i'm moderately optimistic but that's what the president said. you are either optimistic or you are no
and is it mitch mcconnell to the rescue. live in washington on the 11th hour negotiations. >> and did you know about to fall off the dairy cliff? >> juliet: have you seen the prices? >> dave: as high as 8 bucks a gallon for milk. >> clayton: oak ridge boys bush. special number tribute for number 41. "fox & friends" begins right now. >> am i wrong about that don't the have a deep voice? ♪ >> oak ridge boys have been on this show many times on...
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from the democrat-controlled senate, top democrat harry reid, and the top republican mitch mcconnell. senator reid says there is no time to reach a deal. mr. mcconnell says he is more optimistic. then from the republican controlled house of representatives, the top republican john boehner has rejected president obama's previous offers and the morse -- most senior democrat in the house, nancy pelosi. what is the cliff and can be avoided? >> the house of representatives will be going back into session sunday but at this point we do not know what kind of measure they have before them that they can consider for a vote. there has been no indication from the white house or the republican leadership that they are anywhere near any kind of makings of a deal that they could present to the house republican leadership -- or the house republican rank-and-file who so far have been adamantly opposed to tax increases at any level of income, which is an absolute prerequisite for president obama. if they do not come to some kind of agreement, but that tax to be voted on -- and there is doubt that it i
from the democrat-controlled senate, top democrat harry reid, and the top republican mitch mcconnell. senator reid says there is no time to reach a deal. mr. mcconnell says he is more optimistic. then from the republican controlled house of representatives, the top republican john boehner has rejected president obama's previous offers and the morse -- most senior democrat in the house, nancy pelosi. what is the cliff and can be avoided? >> the house of representatives will be going back...
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. >> reporter: the most recent offer came from republican senate leader mitch mcconnell at 7:00 p.m. saturday night. democrats promised they would get back to him this morning. but they didn't. >> it's now 2 p.m., and we've yet to receive a response to our good faith offer. >> reporter: sell cratic leader harry reid said the gulf over taxes was still too wide. and he signaled the white house might be tying his hands. >> i've had a number of conversations with the president. and this stage we're not able to make the counteroffer. >> reporter: so senator mcconnell called the vice president who he served with in the senate for 24 years. the two men spoke several times on sunday. >> i want em to know i'm willing to get this done. but i need a dance partner. >> reporter: democrats want to let the bush era tax cuts expire for household income over $250,000 a year. republican was rather set the cuttoff at around half a million dollars or keep the tax cuts in place for everyone. in an interview on nbc's meet the press president obama said the endless wrangling was not the democrat's fault. >
. >> reporter: the most recent offer came from republican senate leader mitch mcconnell at 7:00 p.m. saturday night. democrats promised they would get back to him this morning. but they didn't. >> it's now 2 p.m., and we've yet to receive a response to our good faith offer. >> reporter: sell cratic leader harry reid said the gulf over taxes was still too wide. and he signaled the white house might be tying his hands. >> i've had a number of conversations with the...
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democratic harry reid and republican mitch mcconnell. they're working on a mini deal that would prevent a tax increase for roughly lly 98% of american workers. what took so long? >> the american people are watching what we do here. obviously, their patience is already thin. this is deja vu all over again. >> reporter: the deal comes after the president met with the congressional leaders at the white house. his first such meeting in six weeks. even if mcconnell and reid come to an agreement, no certainty it will pass before the end of the year. extending tax cuts while doing nothing to curb spending or address the long-term deficit crisis. if they fail to pass a mini-deal, almost everyone's income taxes will go up. even if the income taxes are extended virtually all workers are due to see less in their paycheck as the temporary tax increase is set to inspire. the prospects are quote not too promising they'll get to a bipartisan agreement to prevent everyone's taxes from going up. david? >> our chief white house correspondent jon karl. thi
democratic harry reid and republican mitch mcconnell. they're working on a mini deal that would prevent a tax increase for roughly lly 98% of american workers. what took so long? >> the american people are watching what we do here. obviously, their patience is already thin. this is deja vu all over again. >> reporter: the deal comes after the president met with the congressional leaders at the white house. his first such meeting in six weeks. even if mcconnell and reid come to an...
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republican senator mitch mcconnell is hoping there will be a plan to present today. >>> some sad news from hollywood. harry carey jr. has died. best known for his work in westerns appeared in almost 100 films including ten with john wane. but his career wasn't limited to the silver vene. he served in the u.s. navy during world war ii. he was 91. >>> caught on tape, the terrifying moments when a russian plane hurdled past a runway and sent debris crashing on to a highway in moscow. another driver capturing the scene on his car's dashboard camera. four people onboard the russian red wings flight were killed and four others were injured. the cause of the crash is under investigation. >>> and it's not just the fiscal cliff that could impact your wallet. we'll tell you why something called the dairy cliff could make your grocery bill soar if congress doesn't do something soon. [ rosa ] i'm rosa and i quit smoking with chantix. when the doctor told me that i could smoke for the first week... i'm like...yeah, ok... little did i know that one week later i wasn't smoking. [ male announcer ] al
republican senator mitch mcconnell is hoping there will be a plan to present today. >>> some sad news from hollywood. harry carey jr. has died. best known for his work in westerns appeared in almost 100 films including ten with john wane. but his career wasn't limited to the silver vene. he served in the u.s. navy during world war ii. he was 91. >>> caught on tape, the terrifying moments when a russian plane hurdled past a runway and sent debris crashing on to a highway in...
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senate minority leader mitch mcconnell reached out to him sunday night after talks with democrats stalled. but with just hours go until this deadline there are still obstacles standing in the way of even a watered down agreement. lawmakers left the capitol sunday night without a deal in place, but leaders from both parties expressed their willingness to continue working. >> there's still significant difference between the two sides but negotiations continue. >> i want everyone know i'm willing to get this done but i need a dance partner. >> some progress was made sunday when they dropped a proposal to slow social security growth but the main sticking point between democrats and republicans continues to be over the threshold of tax increases. president obama campaigned on raising taxes on income over $250,000 while many congressional republicans have pushed back on any increase in taxes. >> they say that the biggest priority is making sure that we deal with the deficit in a serious way, but the way they're behaving is that their only priority is making sure that tax breaks for the wealthie
senate minority leader mitch mcconnell reached out to him sunday night after talks with democrats stalled. but with just hours go until this deadline there are still obstacles standing in the way of even a watered down agreement. lawmakers left the capitol sunday night without a deal in place, but leaders from both parties expressed their willingness to continue working. >> there's still significant difference between the two sides but negotiations continue. >> i want everyone know...
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. >> reporter: with that harry reid and mitch mcconnell launched a latch-dimp effort to craft a bipt plan to that stop the tax hike going into effect on new year's day. they negotiated all day saturday. saturday night there was an offer. by this morning, a clear sense of optimism and warnings that failure would be unthinkable. >> there are no breakthroughs yet, but there's a real possibility of a deal. >> if we are not able to reach an agreement, it will be dire. >> the morning's optimism turned into the afternoon's pessimism. the senate opened for business at 1:00 p.m. with the ominous prayer from the chaplain. >> look with favor on our nation and save us from self-inflicted wounds. >> reporter: soon democratic leader reed acknowledged he had not been able to make a counteroffer to republicans. >> it's just that we're apart on some pretty big issues. >> frustrated with the impasse, republican mcconnell said he called vice president biden, urging him to get involved. >> i'm concerned about the lack urgency here. i want erch to know i'm willing to get this done, but i need a dance par
. >> reporter: with that harry reid and mitch mcconnell launched a latch-dimp effort to craft a bipt plan to that stop the tax hike going into effect on new year's day. they negotiated all day saturday. saturday night there was an offer. by this morning, a clear sense of optimism and warnings that failure would be unthinkable. >> there are no breakthroughs yet, but there's a real possibility of a deal. >> if we are not able to reach an agreement, it will be dire. >> the...
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mitch mcconnell? >> that is spot on. this has been a lot of talk about senator mitch mcconnell's ability to be a deal maker. one area he's working on is the threshold for extending the bush tax cuts. the $250,000 mark has been what democrats have been pitching. negotiations seem to be heading toward keeping the current tax rate for those making up to $400,000, a key senate conservative sounds hopeful. >> i do think that something will happen over the next few days relative to the revenue piece and hopefully we can rescue most americans from a tax increase. but what we haven't dealt with again is the spending component. >> since it is not expected that increasing the nation's borrowing ability, the debt limit will be part of this deal, conservatives may be able to fight for spending cut when is that becomes a key issue in the new congress. gregg. >> arthel: if negotiations fail or lawmakers don't like a final deal, president obama wants to move forward with a plan c. what's in that? >> it would focus on three key areas. k
mitch mcconnell? >> that is spot on. this has been a lot of talk about senator mitch mcconnell's ability to be a deal maker. one area he's working on is the threshold for extending the bush tax cuts. the $250,000 mark has been what democrats have been pitching. negotiations seem to be heading toward keeping the current tax rate for those making up to $400,000, a key senate conservative sounds hopeful. >> i do think that something will happen over the next few days relative to the...
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the president, speaker boehner, harry reid, nancy pelosi, mitch mcconnell will all be there. this could be the beginning of a real endgame for the fiscal cliff conflict. we will keep you updated on any new developments tonight and throughout the day tomorrow on cnbc. >>> now the american psychiatric association says it is okay to give antidepressants to people who are grieving over a recently lost loved one. again, these people are not diagnosed with clinical depression. these are people who have suffered a real loss. can a pill really help you with that? here now is beverly hills psychiatrist dr. carol lieberman. is this a good idea? >> thank you. the whole mental health system is actually falling apart and it goes beyond bereavement and depression. actually, bereavement has a lot of similarities to major depression or at least in some people's cases. the depression comes from loss. so whether it's the loss of a job or a loss of a relationship or a loss of a loved one there really are similar symptoms like a sense of sadness like loss of interest or pleasure in activities th
the president, speaker boehner, harry reid, nancy pelosi, mitch mcconnell will all be there. this could be the beginning of a real endgame for the fiscal cliff conflict. we will keep you updated on any new developments tonight and throughout the day tomorrow on cnbc. >>> now the american psychiatric association says it is okay to give antidepressants to people who are grieving over a recently lost loved one. again, these people are not diagnosed with clinical depression. these are...
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we could hear from mitch mcconnel and harry reid. because no deal to avoid a fiscal cliff there is major uncertainty . investors are embracing for trading. dow plunge would 158 points on friday. it was the longest state of losses since july. there is a sell off over seas today to lock in profits. >> another major health scare for secretary of state hillary clinton. >> she was supposed to be back on the job this week. she is instead waking up in new york city hospital new york presbyterian. a blood clot in a follow-up exam. she was forced to cancel the hearing. lawmakers said a hillary clinton must testify before a vote can happen with senator john kerry. nine people are killed and two doysen are injured when a bus crashed off a highway. the bus was driving through a mountain pass. the bus plummled 200 feet down the slope. >> famous ball drop in sometimes square. beefing up security and thousands of extra chromes scattered in the crowd. trust me they are e top of unifs there will be bomb sniffing dogs commissioner ray kelly will said
we could hear from mitch mcconnel and harry reid. because no deal to avoid a fiscal cliff there is major uncertainty . investors are embracing for trading. dow plunge would 158 points on friday. it was the longest state of losses since july. there is a sell off over seas today to lock in profits. >> another major health scare for secretary of state hillary clinton. >> she was supposed to be back on the job this week. she is instead waking up in new york city hospital new york...
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mitch mcconnell was there. the senior staff are trying to figure out what palsy is acceptable. they are trading very detailed information, they are getting scores from the joint committee on taxation to figure out how much money the various proposals raise. you have the white house team and democratic team in reid's office. the republican team in mcconnell's office. they are gaming out what they want and throw in offers across the table. the good news is they are trading those offers. >> t.j., can i say a word in defense of asinine politicians? the asinine politicians are reflecting real divisions in the country, divisions of self-interest, divisions of philosophy. it's more difficult to do because of the structure of our system, the way the two parties developed. ultimately, they are talking act thing that is cost people money and things that would benefit others financially. those are difficult issues to settle. you know, our system was designed to make them difficult to settle, not as difficult as they are in this circumstance. that's the nature of democracy. people said it'
mitch mcconnell was there. the senior staff are trying to figure out what palsy is acceptable. they are trading very detailed information, they are getting scores from the joint committee on taxation to figure out how much money the various proposals raise. you have the white house team and democratic team in reid's office. the republican team in mcconnell's office. they are gaming out what they want and throw in offers across the table. the good news is they are trading those offers. >>...
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. >> majority leader harry reid and minority leader mitch mcconnell say they're confident they come to a compromise but they have to sell it to john boehner and fellow republicans before the deadline. >> president obama will be david gregory's exclusive guest on "meet the press" later this morning. you can watch his interview at 10:00 a.m. the nation'sup for gun show in delles this weekend. this weekend, organizers say there was overwhelming interest. in the wake of the sandy hook shootings, many people said they wanted to buy assault rifles before a possible ban. >> say something should happen and we no longer have right to purchase our guns, that means somebody got off this butt and decided to change the constitution, that will open the door to a lot of issues. >> the f.b.i. reported a record background checks for guns this year. a lawyer for one of the survivors of the newtown school massacre says the state and connecticut didn't do enough to keep the kids safe. lawyer irving pinsky said the state failed to provide a safe climate for his client's daughter. to howard county where pol
. >> majority leader harry reid and minority leader mitch mcconnell say they're confident they come to a compromise but they have to sell it to john boehner and fellow republicans before the deadline. >> president obama will be david gregory's exclusive guest on "meet the press" later this morning. you can watch his interview at 10:00 a.m. the nation'sup for gun show in delles this weekend. this weekend, organizers say there was overwhelming interest. in the wake of the...
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. >> reporter: biden swooped in at the 11th hour to hammer out a way forward to mitch mcconnell. the agreement would permanently extend bush tax cuts to those making under $400,000 and households making $450,000. raise the estate tax at those valued at more than $5 million and extend unemployment benefits for 2 million people. and automatic spending cuts that go into effect will be postponed for two months and paid for by other spending cuts. the house could take up the deal tomorrow. taxpayers would have felt the impact of the fiscal cliff immediately. if the deal passes, the average american family would avoid a tax increase of more than $3,400. a white house official said this is a compromise, so we don't love it but it's the right thing to do for the economy. back to you. >> and the fiscal cliff isn't the only financial crisis the nation could be facing. the u.s. has hit the debt ceiling. the government hit more than $16 trillion borrowing limit last night. that means the treasury department can only shift assets around for another six to eight weeks or the government can no
. >> reporter: biden swooped in at the 11th hour to hammer out a way forward to mitch mcconnell. the agreement would permanently extend bush tax cuts to those making under $400,000 and households making $450,000. raise the estate tax at those valued at more than $5 million and extend unemployment benefits for 2 million people. and automatic spending cuts that go into effect will be postponed for two months and paid for by other spending cuts. the house could take up the deal tomorrow....
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minority leader mitch mcconnell to assure that no republicans block the bill. for house speaker john boehner to agree to bring it to a vote on the house floor. and leader nancy pelosi to produce the huge number of democrats needed to pass it. if that plan falls through -- >> i will urge senator reid to bring to the floor a basic package for an up or down vote. >> so what are the chances that will happen? lisa desjardins is live on capitol hill. lisa, what is happening right now to reach a deal? who right now is involved in the negotiations? >> reporter: you know, this fiscal cliff that affects pretty much every american is now down to just a handful of people here at the capitol trying to work out a deal. at the top of the list are senators mcconnell and reid that you heard about in jessica's story. but also very important today will be their top staffers. their chiefs of staff. our producer, ted barrett, reports that the chiefs of staff will be working with each other trying to hammer out a deal, then talking to their bosses, the senators. then we'll find out
minority leader mitch mcconnell to assure that no republicans block the bill. for house speaker john boehner to agree to bring it to a vote on the house floor. and leader nancy pelosi to produce the huge number of democrats needed to pass it. if that plan falls through -- >> i will urge senator reid to bring to the floor a basic package for an up or down vote. >> so what are the chances that will happen? lisa desjardins is live on capitol hill. lisa, what is happening right now to...
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house speaker john boehner, mitch mcconnell representing the republicans. brianna keilar live from washington. what do we expect to happen today? any new offers from the president or house speaker? >> we don't know. right now, all eyes on the senate to see what senate majority leader harry reid can cobble together to get some republican support. technically, it's still possible to come to an agreement. that said, politically is a different story, and the prospects for coming to a deal are starting to dim. right now, we're hearing a whole lot of the blame game. a lot of public posturing from both sides as they prepare for the possibility of going over the cliff. let's listen to harry reid. >> we are here in washington working while members of the house of representatives are out watching movies and watching their kids play soccer and basketball and doing all kinds of things. they should be here. >> now, the speaker of the house, john boehner, sort of retorting to reid, ali. in a conference call he said the leaders should do more -- or pardon me. less talking
house speaker john boehner, mitch mcconnell representing the republicans. brianna keilar live from washington. what do we expect to happen today? any new offers from the president or house speaker? >> we don't know. right now, all eyes on the senate to see what senate majority leader harry reid can cobble together to get some republican support. technically, it's still possible to come to an agreement. that said, politically is a different story, and the prospects for coming to a deal are...
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we know that about eight hours from now right at three o'clock here in d.c., senator mitch mcconnell and senator harry reid, the principal negotiators from the senate are going to is sit with senators from their parties down and tell them the numbers they've agreed should be in the deal and if those meetings go well, they might be able to vote tomorrow in the senate, tomorrow afternoon. the house of representatives though would then need to support it, too, before it can become a law and we heard last night a little bit of what republicans there are worried about at this stage. >> it's about making sure that we can live within our means and address the real problem and that's spending. i kind of feel like i'm a lifeguard and we've got to save as many people from drowning in higher taxes that we can. >> reporter: one of the big sticking points so far has been the income threshold for tax increases, basically trying to figure out who should be classified as wealthy and who should count as middle class. president obama wanted $250,000 per household to count as wealthy, but democrats now
we know that about eight hours from now right at three o'clock here in d.c., senator mitch mcconnell and senator harry reid, the principal negotiators from the senate are going to is sit with senators from their parties down and tell them the numbers they've agreed should be in the deal and if those meetings go well, they might be able to vote tomorrow in the senate, tomorrow afternoon. the house of representatives though would then need to support it, too, before it can become a law and we...
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so all eyes will be on mitch mcconnell and harry reid and their negotiatorsoled up on capitol hill. the senate comes back into session at 1:00 on sunday. christi, alison? >>> and the cliffhanger continues. jessica yellin, thanks. >>> and january 1st is the deadline to make a deal on the fiscal cliff. for some states, it's a day that a series of new laws are going to take effect. let me get you clued in here. in california, talking more than 800 new laws, including one requiring apartments and condos to install carbon monoxide detectors. separately, employers will no longer be able to ask job applicants for log ins to social media accounts, such as facebook and twitter. and the increase between 28 cents and 37 cents per hour affects more than 1 million low-income earners. thanks to laws that have lower minimum wage to keep price. and the price of stamps is set to go up? e, again, by a penny, on january 27th, which brings the price of sending first-class mail to 46 cents. >>> well, the senate has also approved a five-year extension of the foreign intelligence surveillance act allowing
so all eyes will be on mitch mcconnell and harry reid and their negotiatorsoled up on capitol hill. the senate comes back into session at 1:00 on sunday. christi, alison? >>> and the cliffhanger continues. jessica yellin, thanks. >>> and january 1st is the deadline to make a deal on the fiscal cliff. for some states, it's a day that a series of new laws are going to take effect. let me get you clued in here. in california, talking more than 800 new laws, including one...
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Dec 31, 2012
12/12
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mcconnell. >> it's now 2:00 p.m. and we've yet to receive a response to our good faith offer. >> democratic leader harry reid said the gulf over taxes was still too wide, and he indicated the white house might be tying his hands. >> i've had a number of conversations with the president, and at this stage, we're not able to make a counteroffer. >> reporter: so senator mcconnell called the vice president, who he served with in the senate for 24 years. the two men spoke several times sunday. >> i want everyone to know i'm willing to get this done, but i need a dance partner. >> reporter: democrats want to let the bush-era tax cuts expire for all household incomes over $250,000 a year. republicans would rather set the cutoff at around $500,000 or keep the tax cuts in place for everyone. the two sides are also at odds over the estate tax rate which currently stands at 35% but is set to revert to 55%. even if senate leaders do strike a deal and pass a bill today, it would still need to go up for a vot
mcconnell. >> it's now 2:00 p.m. and we've yet to receive a response to our good faith offer. >> democratic leader harry reid said the gulf over taxes was still too wide, and he indicated the white house might be tying his hands. >> i've had a number of conversations with the president, and at this stage, we're not able to make a counteroffer. >> reporter: so senator mcconnell called the vice president, who he served with in the senate for 24 years. the two men spoke...
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Jan 1, 2013
01/13
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. >> reporter: vice president joe biden and senate minority leader mitch mcconnell have been trying to hammer out a last-minute agreement. they have agreed on a few issues but both sides are making concessions. if the deal passes, it looks like democrats will keep popular items like a five-year extension on the child tax credit. it's for workers who do not earn enough to pay income taxes. also, the refundable credit for parents who have children going to college should stay in place. that would help families pay for tuition costs that continue to rise across the nation. and for healthcare providers who treat medicare patients, about $30 billion will be expected to help pay the costs for at least one more year. but what most of us will have to pay, the payroll tax forestial security. it is going up 2 points starting tomorrow. and that means if you earn $100,000 a year, you will pay an extra $2,000 next year out of your paycheck. now, we're still baiting to hear details on the deal between the white house and the gop but what we do know is that we get a little bit of a reprieve because t
. >> reporter: vice president joe biden and senate minority leader mitch mcconnell have been trying to hammer out a last-minute agreement. they have agreed on a few issues but both sides are making concessions. if the deal passes, it looks like democrats will keep popular items like a five-year extension on the child tax credit. it's for workers who do not earn enough to pay income taxes. also, the refundable credit for parents who have children going to college should stay in place. that...
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Dec 30, 2012
12/12
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that's what the weather was like when mitch mcconnell came to work to try to reach a deal. if he can't forge a deal with democrats, here's what's at stake. let's look first of all at what's involved in talks. at the top of that list, tax rates. if we go over the fiscal cliff, tax rates will go up 9% to 33% for most all americans. that would also mean havoc for payroll companies and the irs that would have to struggle with how to handle withholding starting on january 1st. also unemployment benefits, those actually ran out today. that's something that republicans and democrats, we understand, are talking about right now. what else is at stake in the fiscal cliff? let's look at some other issues, things that we're not sure will be in a deal that comes out this week. at the top of that list, government spending cuts. that's about 8% to 10% in cuts to most every federal agency. also a pay cut for medicare doctors of 27% that would hit after january 1st. finally, don, there are a slew of other tax hikes. the alternative minimum tax is one that people talk about. the estate tax.
that's what the weather was like when mitch mcconnell came to work to try to reach a deal. if he can't forge a deal with democrats, here's what's at stake. let's look first of all at what's involved in talks. at the top of that list, tax rates. if we go over the fiscal cliff, tax rates will go up 9% to 33% for most all americans. that would also mean havoc for payroll companies and the irs that would have to struggle with how to handle withholding starting on january 1st. also unemployment...
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Dec 30, 2012
12/12
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that's what the weather was like when mitch mcconnell came to work to try to reach a deal. if he can't forge a deal with democrats, here's what's at stake. let's look first of all at what's involved in talks. at the top of that list, tax rates. if we go over the fiscal cliff, tax rates will go up 9% to 33% for most all americans. that would also mean havoc for payroll companies and the irs that would have tro stro struggh how to handle withholding starting on january 1st. also unemployment benefits, those actually ran out today. that's something that republicans and democrats, we understand, are talking about right now. what else is at stake in the fiscal cliff? let's look at some other issues, things that we're not sure will be in a deal that comes out this week. at the top of that list, government spending cuts. that's about 8% to 10% in cuts to most every federal agency. also a pay cut for medicare doctors of 27% that would hit after january 1st. finally, don, there are a slew of other tax hikes. the alternative minimum tax is one that people talk about. the estate tax.
that's what the weather was like when mitch mcconnell came to work to try to reach a deal. if he can't forge a deal with democrats, here's what's at stake. let's look first of all at what's involved in talks. at the top of that list, tax rates. if we go over the fiscal cliff, tax rates will go up 9% to 33% for most all americans. that would also mean havoc for payroll companies and the irs that would have tro stro struggh how to handle withholding starting on january 1st. also unemployment...
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Dec 30, 2012
12/12
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what's happening right now is harry reid and mitch mcconnell, the top democrat and republican in the senate are still negotiating their staffs at this hour. they are supposed to be working until about 3:00 this afternoon when the plan would be presented to both caucuses. as we understand what they are talking about is the bare minimum. basically the senate negotiating to extend those tax cuts for everybody making under $250,000 a year and do extend unemployment benefits also they're talking about trying to do something to stop the automatic spending cuts that go into effect but don't expect a deal on that. now, dan, if a deal can be reached today, the senate would begin looking at it, begin debating it and then you would see vote tomorrow in the senate and possibly a vote tomorrow in the house because as you know, if we get to tuesday without any of this happening, off the cliff. >> and, jon, you say off the cliff by tuesday, just two days left, how damaging would it be if we do indeed go off the cliff even if we bungee up a few days or weeks after. >> the impact on everybody's taxes
what's happening right now is harry reid and mitch mcconnell, the top democrat and republican in the senate are still negotiating their staffs at this hour. they are supposed to be working until about 3:00 this afternoon when the plan would be presented to both caucuses. as we understand what they are talking about is the bare minimum. basically the senate negotiating to extend those tax cuts for everybody making under $250,000 a year and do extend unemployment benefits also they're talking...
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Jan 1, 2013
01/13
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. >> reporter: biden swooped in at the 11th hour to hammer out a way forward to mitch mcconnell. their agreement would permanently extend the bush tax cuts for individuals making under $400,000 and households under $450,000. raise the estate tax for those valued at more than $5 million. and extend unemployment benefits for one year for some 2 million people. and those automatic spending cuts that would go into effect in the new year, they'll be postponed for two months. and paid for by other spending cuts. the house could take up the deal tomorrow. taxpayers would have felt the impact immediately. if the deal passes, the average american family will avoid a tax increase of more than $3,400. a white house official said this is a compromise, so we don't love it but it's the right thing to do for the economy. >> like i said, they still have to approve it. but most insiders believe that republicans will approve this overwhelmingly. >> it's hard for me to wrap my mind around the idea it's going to get to the house and be approved. am i just been cynical? >> yes, i think you are. >> i
. >> reporter: biden swooped in at the 11th hour to hammer out a way forward to mitch mcconnell. their agreement would permanently extend the bush tax cuts for individuals making under $400,000 and households under $450,000. raise the estate tax for those valued at more than $5 million. and extend unemployment benefits for one year for some 2 million people. and those automatic spending cuts that would go into effect in the new year, they'll be postponed for two months. and paid for by...
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Dec 28, 2012
12/12
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mcconnell. that is happening this afternoon. jessica yellin is there. jess, what do we know about the president's plan to get everybody in the same room? do we think there's going to be something that comes out of this? >> reporter: well, this is one of those cases where we really are going to have to wait and see, and all the parties involved are also going in with a big question mark. the idea is the expectation by many of the participants in the meeting is that they hope that they will be able to discuss more details about a scaled-down fiscal cliff plan. and maybe that could lead to some sort of agreement ideally for all parties in which all the senators say that they will not filibuster it, and it can go to a vote. and then speaker boehner could, in theory, agree to bring it to a vote on the house floor after the house comes back on sunday. and then we would get all of this behind us before new year's eve. how likely does that sound? not so likely. >> you and i are both kind of laughing abo
mcconnell. that is happening this afternoon. jessica yellin is there. jess, what do we know about the president's plan to get everybody in the same room? do we think there's going to be something that comes out of this? >> reporter: well, this is one of those cases where we really are going to have to wait and see, and all the parties involved are also going in with a big question mark. the idea is the expectation by many of the participants in the meeting is that they hope that they will...
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Dec 29, 2012
12/12
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and senator mitch mcconnell i will urge senator reid to to bring a floor to a package for a vote one that will protect the middle class. >> following this high- stakes meeting they appear poised to work towards a solution. >> we are going to work hard to see if we can get there in the next 24 hours. i am hopeful and optimistic. >> i am hopeful that pitch mcconnell can do the same but everybody, what ever we come up with. some people are not going to like it. some people will like it even less but that is where we are. >> they wanted to negotiate with house speaker jon peters said that he is not going to bring anything to a vote until it has passed the senate. nearly every american will see a tax increase. and unemployment benefits will expire for millions. >> ordinary people do their jobs and meet deadlines. they sit down and they discuss things and things happen. if there are disagreements there will sort through the disagreements. the notion that our elected leadership cannot do the same thing is mind-boggling. it needs to stop! >> we'll be right back here on the kron four morning
and senator mitch mcconnell i will urge senator reid to to bring a floor to a package for a vote one that will protect the middle class. >> following this high- stakes meeting they appear poised to work towards a solution. >> we are going to work hard to see if we can get there in the next 24 hours. i am hopeful and optimistic. >> i am hopeful that pitch mcconnell can do the same but everybody, what ever we come up with. some people are not going to like it. some people will...